Welcome to our dedicated page for AudioEye news (Ticker: AEYE), a resource for investors and traders seeking the latest updates and insights on AudioEye stock.
AudioEye, Inc. (Nasdaq: AEYE) is a pioneering technology company dedicated to transforming digital content accessibility for businesses committed to offering equal access to their online platforms. Specializing in rapid compliance with ADA-related digital accessibility requirements, AudioEye provides technology that enhances the usability of digital content for the broadest audience possible. The company combines patented technology, subject matter expertise, and proprietary processes to eliminate barriers to digital accessibility. Trusted by major brands like ADP, Tommy Hilfiger, Samsung, and others, AudioEye ensures businesses can identify and resolve accessibility issues effectively.
Recently, AudioEye has been actively involved in various high-impact projects and initiatives. The company announced record revenue for its recent fiscal quarters, showcasing its financial strength and stability. AudioEye is also recognized for its innovative approaches, such as the introduction of enhanced enterprise-grade capabilities focused on compliance and security, including new developer tools and single sign-on features. Furthermore, AudioEye's support for the Department of Justice's and Department of Health and Human Services' new regulations underscores its commitment to advancing digital inclusivity.
With over 112,000 customers, including Samsung and Calvin Klein, AudioEye's mission is to create a digital future that is inclusive. Holding 22 US patents, the company employs a combination of AI automation and human-assisted technology to ensure businesses of all sizes can achieve full ADA and WCAG compliance. AudioEye's platform offers ongoing training, monitoring, and upkeep to maintain digital accessibility continuously. This ensures that the digital experiences provided are accessible and usable for everyone, including individuals with disabilities.
The Board of Directors of AudioEye (NASDAQ: AEYE) has appointed David Moradi as CEO, effective January 13, 2022. Moradi has served as interim CEO for 18 months, leading the company's transition to a scalable platform with high gross margins. His leadership has resulted in a stronger product offering and a dedicated team of over 90 new hires. Executive Chairman Carr Bettis commended Moradi’s commitment and financial investment in the company, reinforcing alignment with shareholders' interests.
AudioEye, Inc. (NASDAQ: AEYE) has provided a preliminary outlook for its fourth quarter of 2021. Monthly recurring revenue (MRR) is anticipated to reach approximately $2.2 million, reflecting a 16% year-over-year growth. The company expects fourth-quarter revenue between $6.4 million and $6.5 million, marking a 14-16% increase from the previous year. However, net loss is projected to be between $4.9 million and $5.2 million, impacted by litigation and stock-based compensation expenses. Customer count surged by 156% year-over-year to roughly 82,000.
AudioEye, Inc. (NASDAQ: AEYE) reported a strong Q3 2021, achieving a revenue increase of 17% to $6.2M and a 24% rise in monthly recurring revenue (MRR) to $2.1M. Gross profit reached $4.6M, representing 74.7% of total revenue. However, operating expenses surged 72% to $9.3M, leading to a net loss of $4.7M or $(0.41) per share. The company had $22.0M in cash at quarter-end and anticipates Q4 revenue between $6.3M and $6.5M, indicating continued growth.
AudioEye, Inc. (NASDAQ: AEYE) has launched a new feature called Issue Reporting, aimed at enhancing web accessibility for companies. This tool enables users to detect, track, and monitor accessibility problems on their websites through a centralized dashboard. It categorizes issues by type and severity, and provides real-time updates, aiding compliance with WCAG guidelines. Available at no extra charge with paid subscriptions, this feature boosts accessibility efforts while being cost-effective. The launch is backed by positive feedback from partners like CivicPlus, emphasizing its practical utility.
AudioEye, Inc. (NASDAQ: AEYE) will host a conference call on November 11, 2021, at 4:30 p.m. Eastern time to discuss its third-quarter financial results for the period ending September 30, 2021. A press release with the results will precede the call. Interested parties can dial in using the U.S. number 1-877-407-9208 or the international number 1-201-493-6784. The call will also be broadcast live and available for replay on the company’s investor relations webpage, with a telephonic replay option available until November 18, 2021.
AudioEye, Inc. (NASDAQ: AEYE) announced its participation in HubSpot's INBOUND 2021 event where it will provide digital accessibility tools and services. Chief Product Officer Zach Okun will present at 3:30 PM EDT and moderate a session with disability rights activist Judith Heumann. Accessibility Evangelist Alisa Smith previously delivered a presentation on designing inclusive digital content, attended by nearly 1,000 participants. AudioEye's Visual Toolkit will be available to enhance accessibility for event attendees. HubSpot emphasizes creating inclusive experiences through this partnership.
AudioEye, Inc. (NASDAQ: AEYE) announced the launch of the AudioEye A11iance, a community initiative aimed at enhancing digital accessibility for people with disabilities. This project involves community members in the development and quality assurance process to ensure products meet their needs. COO Dominic Varacalli emphasized the importance of incorporating user feedback to improve services. The announcement was made during the M-Enabling event, highlighting ongoing discussions about technology's role in accessibility. AudioEye's patented technology addresses accessibility challenges efficiently, supporting compliance with ADA and WCAG standards.
AudioEye, Inc. (NASDAQ: AEYE) recently announced the promotion of key executives to drive future growth. Chris Hundley has been promoted to President, overseeing strategic initiatives, while Dominic Varacalli transitions to COO, focusing on customer service and efficiency. Mase Gray takes on the role of CTO, tasked with shaping product strategy. Interim CEO David Moradi emphasized the firm's recent progress in revenue and technology, attributing success to a strong leadership team. AudioEye aims to enhance web accessibility compliance, unlocking significant market opportunities for businesses.
AudioEye, Inc. (NASDAQ: AEYE) announced the promotion of Chris Hundley to President, Dominic Varacalli to Chief Operating Officer, and Mase Gray to Chief Technology Officer, aimed at enhancing growth and operational efficiency. Interim CEO David Moradi expressed optimism about the leadership changes, highlighting the new team’s experience from top companies like Facebook and Amazon. AudioEye continues to advance its digital accessibility solutions, ensuring compliance with ADA and WCAG standards while addressing the significant market for web accessibility.
AudioEye, Inc. (NASDAQ: AEYE) announced a 14% revenue increase, reaching $6.0M for Q2 2021. Monthly Recurring Revenue (MRR) rose 25% to $2.0M. Gross profit improved to $4.5M (74.9% margin), driven by increased automation. Despite these gains, operating expenses surged 68% to $7.6M, resulting in a net loss of $1.8M. The company anticipates Q3 revenue between $6.1M and $6.3M while focusing on growth through platform investments. As of June 30, 2021, cash reserves stood at $24.8M, up from $9.1M at year-end 2020.
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